Breaking the 3,000-room mark would more than double FDC’s current inventory of 1,591 rooms with a plan to open eight new hotels in the next five years.
Philippine property giant Filinvest Development Corp. (FDC) is aiming to grow its tourism portfolio with a US$98 million war chest for expansion to boost hotel room capacity beyond 3,000 rooms.
Breaking the 3,000-room mark would more than double FDC’s current inventory of 1,591 rooms with a plan to open eight new hotels in the next five years.
FDC’s tourism expansion will be implemented through subsidiary Filinvest Hospitality Corp. (FHC) which is managed by Chroma Hospitality Inc., a joint venture with Archipelago International.
The group is set to operate its newest property, the 192-room Crimson Resort and Spa Boracay, as soon as the Philippine government reopens Boracay island, which was shut down April 26 for rehabilitation.
Counting two additional properties in Tagaytay and San Mateo, Rizal, that are scheduled to open this year, FHC now has eight new hotels in the planning and construction stages which will add 1,700 rooms to the capacity.
The group said it is planning to build more hotels around the country, including another hotel in Mactan, Cebu, where a Crimson Resort is already operating. It intends to enter new areas like Cubao, Puerto Princesa in Palawan, and Dumaguete, Negros Oriental.
Meanwhile, FHC subsidiary Mimosa Cityscapes Inc. (MCI) has been awarded a provisional licence by state gaming agency Pagcor for an integrated casino resort in Filinvest Mimosa in Clark, Pampanga.
MCI has earmarked a minimum investment of US$200 million for the project, which includes a casino, lifestyle mall, five-star hotel and events venue.
The project also includes the renovation of the existing Quest Hotel and Conference Centre-Clark, two championship golf courses and villas.